SOURCE: Players Network

Players Network

November 09, 2015 16:18 ET

Players Network Has Filed a Complaint Against Vis Vires Group, KBM Worldwide, Asher Enterprises, Seth and Curt Kramer, Individually

LAS VEGAS, NV--(Marketwired - Nov 9, 2015) - Players Network, Inc. (OTC PINK: PNTV), a fully reporting publicly traded company, announced today that it has filed a law suit in the district Court of Clark County, Nevada, against Vis Vires Group Inc., KBM Worldwide Inc., Asher Enterprises Inc., and Seth Kramer and Curt Kramer, individually. The case is currently contested by the defendants in both Federal and State Courts in New York and Nevada.

The forgoing defendants are all companies owned or controlled by Curt or Seth Kramer, both defendants in PNTV's actions, and Curt Kramer is a defendant in other actions filed by FINRA relating to by virtue of FINRA Rule 6490(d)(3)(3), that states the regulator has "actual knowledge that ... promoters or other persons connected to the issuer ... are the subject of a pending, adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self-regulatory organization; or a civil or criminal action related to fraud or securities laws violations," it can reject corporate action requests.

In the FINRA case against Curt Kramer, it is specifically stated that it: "has actual knowledge of a November 25, 2013 Securities and Exchange Commission ("SEC") Cease-and-Desist Order (Administrative Proceeding File No. 3-15621) ("SEC Order") involving Curt Kramer ("Kramer"), President of Asher Enterprises, a convertible note holder of ECOS. The SEC's investigation found that Kramer and his firms Mazuma Corporation, Mazuma Funding Corporation, and Mazuma Holding Corporation ("his Mazuma firms"), obtained unregistered shares in penny stock issuers Laidlaw Energy Group ("Laidlaw") and Bederra Corporation ("Bederra"). According to the SEC Order Kramer and his Mazuma firms purchased two billion Laidlaw shares, which amounted to 80% of Laidlaw's outstanding shares at the time. They purchased these shares at a significant discount from prevailing market prices. Kramer and his Mazuma firms purchased the shares in 35 tranches with no six-month gaps, thus quantifying the transactions as a single integrated offering through which Laidlaw exceeded the $1 million limit under Rule 504 by raising a total of $1,259,550. No registration statement was filed for any shares that Laidlaw offered and sold to Kramer and his Mazuma firms, nor was any registration statement filed for any shares that Kramer and his Mazuma firms subsequently re-sold into the public market. Despite exceeding the $1 million limit, Kramer and his Mazuma firms continued to acquire and sell additional Laidlaw shares and profited by $126,963 from these transactions.

"Further, according to the SEC Order, Kramer and Mazuma Holdings Corporation acquired more than one billion shares of Bederra in 2009 and 2010 through 21 separate transactions from the principal of Bederra's transfer agent, who had misappropriated the Bederra share certificates. Again they purchased the shares at a significant discount from prevailing market prices and re-sold the misappropriated Bederra shares to the public without any registration statement for profit of $934,404."

In this case PNTV is suing for an undisclosed amount for injunctive relief, actual damages and punitive damages.

The suit was filed on behalf of PNTV by Bloom Donohue Young LLP (www.bdyllp.com), a national law firm with offices in New York, Pennsylvania, California and Nevada which specializes in toxic debt relief cases.

About Players Network:

Players Network is a diversified company with holdings in the Legalized Medical Marijuana and Media Industries. The Medical Marijuana asset is primarily through the Company's 80% ownership in Green Leaf Farms Holdings, Inc. The Company uses its proprietary Enterprise Web Platform to develop Branded Digital Lifestyle Television Networks for itself and its partners in a wide range of lifestyle categories. Players Network's current channels "Players Network," "Vegas on Demand" and "Real Vegas TV" focus on Las Vegas and Gaming Lifestyles. Its newest channel, "WeedTV.com," targets the rapidly expanding cannabis community. These VOD Channels are on TV in over 23,000,000 homes on Comcast, and on the Internet and Mobile Platforms on Hulu, Google, YouTube and Yahoo Video, and on DVD and through worldwide television syndication. For more information please visit www.playersnetwork.com

Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this Release and the attached Shareholder Report, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to: the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.

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